Nel ASA - Remuneration Information 2023

Nel ASA: Employee share option program

(March 1, 2023 - Oslo, Norway) Reference made to the release regarding employee

share option program dated March 1, 2023. Attached are the related KRT-1500

forms.

ENDS

For additional information, please contact:

Kjell Christian Bjørnsen, CFO, +47 917 02?09

Wilhelm Flinder, Head of Investor Relations, +47 936 11 350

About Nel ASA | www.nelhydrogen.com

Nel has a history tracing back to 1927 and is today a leading pure play hydrogen

technology company with a global presence. The company specializes in

electrolyser technology for production of renewable hydrogen, and hydrogen

fueling equipment for road-going vehicles. Nel's product offerings are key

enablers for a green hydrogen economy, making it possible to decarbonize various

industries such as transportation, refining, steel, and ammonia.

This information is subject to a duty of disclosure pursuant to Section 5-12 of

the Norwegian Securities Trading Act. This information was issued as inside

information pursuant to the EU Market Abuse Regulation, and was published by

Wilhelm Finder, Head of Investor Relations, at NEL ASA on the date and time

provided.

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